Foreign Direct Investment (FDI) in Ethopia is increasing at a healthy rate, according to authorities in the country. Ministry of Foreign Affairs spokesperson Meles Alem said the nation managed to attract 156 big companies during the year with a combined capital of over $4.1 billion.
That figure means that the total proportion of Ethiopia’s GDP generated by FDI was estimated at 18.9% of GDP in 2017. And investment in leather has grown steadily, according to Alem.
“China has significantly increased its investment in the country over the past decade, notably in the construction, textile, power generation and telecommunications sectors. Agriculture (particularly horticulture) and leather goods are the sectors that attract the most FDI,” the spokesperson said.